Financing Options

Financing a used car

We Offer a Great Value at a Used Car Price in El Paso

Here at Express Auto Credit, we offer financing options to our customers to ensure they have the opportunity to drive away in a quality vehicle. We are a buy here pay here establishment, which can be a big benefit for those who can’t find credit elsewhere.

Common Myths About “Buy Here Pay Here” Dealerships

Before you visit our in-house financing car lot, there are few myths we need to debunk. First of all, used car financing is often frowned upon because people think that you’ll automatically be charged with a 30% interest rate. That just isn’t true here at our car dealership. If you have ever driven down Alameda Street, you’ve probably seen that there are too many car lots to count. And we can’t vouch for their sales tactics. However, here at Express Auto Credit, we don’t automatically charge the maximum allowable rate. We assess your credit and give you a score that is fair according to your situation. Granted, it is probably higher than the average rate, due to the fact that many customers may not be able to get credit at another location. Our rates usually range between 10 and 20 percent.

Another myth is one concerning the down payment. Many people will tell you that that the down payment is close to what the dealership paid for the car. That just isn’t true. Perhaps that was true back when buy here pay here lots were established in the 1970s. However, as you well know, vehicle prices have risen drastically. We buy our vehicles from auctions and other dealers. Our typical down payment is between $1,000 and $3,000, which isn’t even close to covering the full cost we pay for a vehicle.

How Used Car Financing Really Works

First of all, each situation is different. There is no one-size-fits-all price or interest rate when it comes to used car financing. When you visit our establishment, you are welcome to use direct lending if you have excellent financing. Direct lending means you will get a loan directly from a bank, credit union, or other finance company. However, when your credit score doesn’t cut it for direct lending, that’s when we step in. We assess your situation and help you find a vehicle that matches your needs and your budget. When you are able to pay the downpayment, we finance the remaining cost. You pay directly to us instead of a bank or other financial institute.

Apply Today, Drive Today

We do our best to make your car buying experience easy and feasible. If you arrive ready to pay the downpayment, you can leave in a car that same day. Our buy here pay here financing makes a payment plan as easy as stopping by and taking care of your bill. Our return customers come back because they appreciate the ease and accessibility we offer.

Not only that, we only deal with clean titles and we never purchase salvaged cars. We don’t believe in offering our customers substandard, unsafe vehicles. When you visit our lot, we only offer clean, fully functioning cars. We have a mechanic shop for periodic maintenance or in case you need an oil change later down the road.

The Best Alameda Car Dealers in El Paso

If you need a car and you are struggling to find the right price and easy financing, contact us today. We offer reasonable financing and our honest sales team will help you out. When you come to Express Auto Credit, you have the possibility of driving away with a pre-owned vehicle. Call or visit us today!

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